When it comes to investments, insurance, and financial planning, it seems that companies either present a confusing array of products or focus on the vague retirement clichés of bringing your dreams to life, finding your passion, or living on a beach somewhere. The fact is, with so many products on the market, you need new solutions that will help you reach your goals, whatever they may be. You need new thinking.

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With the different types of retirement accounts available, it can be confusing to know what's right for you. It may be time for some new thinking. Whether you're ready for retirement or just planning for it, a 401(k) Plan, or a Traditional, Roth or SEP IRA are retirement savings options worth considering.

How does a financial company remain successful for more than 160 years? By always looking for new ways to bring new thinking to your financial future. The thinking is new. The name is Old Mutual.

Printable PDF of the Retirement Plan Chart

	Traditional IRA	Roth IRA	SEP IRA	401(k) Plan
Summary	Contributions are typically made with pre-tax dollars.	Contributions are made with after-tax dollars.	Designed for self-employed individuals and small-business owners and their employees.	Employees contribute a portion of their wages to the plan on a pre-tax basis.
Annual Contribution Limits	2008 - up to $5,000 ($6,000 if over age 50) or 100% of earned income, whichever is less.	2008 - up to $5,000 ($6,000 if over age 50) or 100% of earned income, whichever is less.	Up to 25% of total compensation, with a maximum contribution of $46,000 in 2008.	Employee funds plan through salary deferrals of up to $15,500 for 2008. Individuals age 50 or older may make additional contributions.
Tax Treatment	Account balances compound tax deferred until withdrawn. Contributions may be tax deductible, depending on the individual's income and participation in an employer-sponsored plan.	Account balances compound tax deferred until withdrawn. Contributions are not tax deductible.	Both contributions and the investment earnings grow tax deferred until withdrawn.	Earnings grow tax deferred until withdrawn. Contributions are tax deductible.
Withdrawals	Required once the owner reaches age 70½ and are taxable.	Withdrawals on earnings are tax free if taken after the owner reaches age 59½ and the account has been open for at least five years.	Required once the owner reaches age 70½ and are taxable.	Required once the owner reaches age 70½ and are taxable.
Eligibility	To open, owner must have earned income and be younger than age 70½ at year-end.	Eligibility is based on adjusted gross income (AGI).	Certain sole proprietors, partners or business owners, and the self-employed.	Most employees are allowed to participate. Some exceptions may include employees who have not worked at the company for a full year or are younger than age 21.

Although tax information is gathered from reliable sources, we cannot guarantee the completeness or accuracy of the data shown. Representatives of Old Mutual are not tax professionals and cannot offer personal tax advice. Please discuss your circumstances with your tax professional.

Last updated: March 14, 2008

THE THINKING IS NEW. THE NAME IS OLD MUTUAL.